Nicosia: An annual increase of 4.7% in the production index in the construction sector was recorded in the first six months of the year, according to the Statistical Service of Cyprus. The Index of Production in Construction during the second quarter of 2024 reached 119.80 units, with the base year set at 2021 equaling 100.00. This marks a 4.8% increase over the second quarter of 2023.
According to Cyprus News Agency, for the period of January to June 2024, the Index registered an increase of 4.7% compared to the corresponding period of 2023. This indicates a steady growth in the construction sector, reflecting a positive trend in production activities.
The Output Prices Index in Construction for the second quarter of 2024 reached 119.82 units, also based on the year 2021 equaling 100.00. This represents a 1.1% rise relative to the first quarter of 2024. Compared to the same quarter of the previous year, the Index increased by 5.3%.
For the period January to June 2024, the Output Prices Index in Constructi
on registered an increase of 4.6% over the corresponding period of 2023. This growth is indicative of the overall upward movement in construction prices alongside production, underscoring the sector’s expansion during the first half of the year.